Originally posted by @Steve Morris:If it's your first one - HIRE AN EXPERIENCED MANAGER.A lot of these are tenant management issues like private/Medicare pay and keeping vacancies to a min.If you build and get it running well, then at least you can decide to keep it or sell it at a better price Where would someone find an experience manager?

My experience in Ohio (it may be different in your area) is that if the bank brings the forclosure, then they 99% certian to bid on it unless the amount owed is lower than the opening bid. 

The issue that you have, is that your guests experience will depent greatly based on the demographic that the motel building brings.I would pass and try to get a small multi-family building or see if you can buy the whole motel(to have more control).

I am interested if anyone has some recent experience with them.

Hey Anna, Yeah I would definitely recommend studying and gaining experience for a couple years before diving in that deep.

The ROI / punchline: I've already 100x'ed this investment, i.e. it's paid itself back 100x overShe did not ask for this review, but I had such a positive experience that I had to make the time to write it.

It gives you valuable experience as a landlord firsthand which will be helpful down the road when you consider a BRRRR strategy with hard money.

And what I am personally seeing the Market place today.Commercial bank/ community bank were you have significant deposit relationship and long term relation ship..   7 to 10% plus 1/2 to 1.5 points.. these are relationship and experience and capacity lenders..

I wanted to see what folks' experience has been with Steadily for STR insurance.

Are you looking for extra capital or perhaps someone with experience or someone with time to do work?